Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q2 2011 Earnings Presentation
24 slides from Bluelinx's earnings presentation, Aug 4, 2011
Slide 1: BlueLinx Quarterly Review 2nd Quarter 2011
BlueLinx Quarterly Review2nd Quarter 2011
Slide 2: Forward-Looking Statement Safe Harbor
2 BlueLinx Holdings Inc. Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our management t
Slide 3: 2nd Quarter Highlights
3 2nd Quarter Highlights 2nd Quarter Highlights Revenue Down 7.4% to $500.8 million Down 7.4% to $500.8 million Housing Starts Total starts decreased 4.0% from the same period last year; Single family starts decreased 13.1% from the same period last year Total starts decreased 4.0% from the same per
Slide 4: Introduction and Financial Review
4 Doug GoforthChief Financial Officer and Treasurer Introduction and Financial Review
Slide 5: Quarterly Revenue
5 Quarterly Revenue 4Q '05 1Q '06 2Q '06 3Q '06 4Q '06 1Q '07 2Q '07 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 Specialty 539.5 580 603.3 553.5 460 456.5 500.8 462.9 381.5 354 402.8 375.9 278.7 233.9 250 257.9 206.2 233.1 286 264.3
Slide 6: 2011 YTD Results
6 2011 YTD Results revenue YTD '10 971.832 YTD '11 891.414 YTD '10 YTD '11 GM % 0.12 0.117 Operating Expense YTD '10 120.782 YTD '11 110.788 YTD '10 YTD '11 EBITDA 2.542 -1.462 Significant Special Items YTD '10 YTD '11 Gain on real estate $- $7.2 ($7.2)
Slide 7: Cash Flows
7 Cash Flows BXC used $38.3 million in operating cash flow for the quarter Unaudited Direct Method (in million's) (in million's) (in million's)
Slide 8: Debt
8 Debt Revolver $94 million excess availability as of July 2, 2011LIBOR plus 4.0% as of July 2, 2011$400 million facility with additional $100 million uncommitted accordion facilityMatures January 7, 2014No financial performance covenants provided Excess Availability is more than the greater of (A)
Slide 9: Pro Forma Balance Sheet
9 Pro Forma Balance Sheet Pro Forma Balance Sheet
Slide 10: Cash Cycle
10 Cash Cycle TTM Cash Cycle days at 58, up 3 days sequentially and up 9 days compared to the prior year quarter 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 Inv 45.8 44.7 46.3 46.3 45.3 43.9 44 44.7 45.1 43.9 43.9 43.2 44.2 45 48 50
Slide 11: Business Review
11 George JuddChief Executive Officer Business Review
Slide 12: 2nd Quarter Focus and Long Term Strategic Objectives
12 2nd Quarter focusSpecialty growthCustomer careGross marginLong term strategic objectives:Profitably grow specialty revenues to 60+% of total salesProfitably manage structuralProfitably outgrow the market over the long term Remarks
Slide 13: Appendix
Appendix Topic PAGE Profit and Loss Statement by Quarter 14 Revenues by Quarter 18 ‘Channel Mix Analysis, 16 Unit Volume by Quarter 7 Gross Margin by Quarter 18 Gross Margin % Analysis, 19 Operating Expense by Quarter 20 ‘Structural Product Price Trends at Reconciliation of GAAP Debt to Non-GAAP Net
Slide 14: Profit & Loss Statement by Quarter
14 Profit & Loss Statement by Quarter Profit & Loss Statement by Quarter
Slide 15: Revenues by Quarter
15 Revenues by Quarter Revenues by Quarter
Slide 16: Revenue Channel Mix Analysis
16 Revenue Channel Mix Analysis Revenue Channel Mix Analysis
Slide 17: Unit Volume by Quarter
17 Unit Volume by Quarter Unit Volume by Quarter
Slide 18: Gross Margin by Quarter
18 Gross Margin by Quarter Gross Margin by Quarter
Slide 19: Gross Margin % Analysis
19 Gross Margin % Analysis Gross Margin % Analysis
Slide 20: Operating Expense by Quarter
20 Operating Expense by Quarter Operating Expense by Quarter
Slide 21: Structural Products Price Trend
21 Structural Products Price Trend Source: Data from Random Lengths Publications, Inc., updated as of July 29, 2011 Source: Data from Random Lengths Publications, Inc., updated as of July 29, 2011 Source: Data from Random Lengths Publications, Inc., updated as of July 29, 2011 Source: Data from Rand
Slide 22: Reconciliation of GAAP to Non-GAAP
22 Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP
Slide 23: Reconciliation of GAAP to Non-GAAP
23 Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP
Slide 24: www.BlueLinxco.com
24 www.BlueLinxco.com